• Ticker: ETC
• Network: Ethereum Classic
• Category: Layer 1, PoW, Smart Contracts
• Address: https://etc.blockscout.com/

About ETC

ETC is the native crypto of Ethereum Classic, a Layer 1 blockchain that continues the first Ethereum chain and upholds its original vision of immutability and decentralization.

Ethereum Classic was created after the DAO hack and subsequent Ethereum hard fork in 2016. Unlike the forked chain, Ethereum Classic kept the original blockchain untouched. It continues to operate under a Proof-of-Work (PoW) consensus model and is fully compatible with the Ethereum Virtual Machine (EVM), enabling developers to build decentralized applications using familiar tools.

Key Points of ETC

• Immutable ledger: Ethereum Classic chose not to reverse the DAO hack, making immutability a core principle.
  
  
• Proof-of-Work consensus: The network is secured by miners, similar to Bitcoin and pre-merge Ethereum.
  
  
• Fixed supply: The total supply of ETC is capped at 210.7 million, with mining rewards decreasing over time.
  
  
• EVM compatibility: Developers can deploy Ethereum-based smart contracts and dApps with ease.
  
  

FAQ

1. What is ETC used for?

ETC has several key use cases:

• Gas fees: Used to pay for executing transactions and smart contracts.
  
  
• Mining rewards: Miners earn ETC for producing blocks and securing the network.
  
  
• dApp deployment: Developers use ETC to deploy and interact with smart contracts.
  
  

2. How does Ethereum Classic work?

Ethereum Classic operates under a Proof-of-Work consensus, meaning network security and block creation rely on mining. The network follows the Ethereum Virtual Machine (EVM) standard, making it compatible with existing Ethereum tools and applications.

Example: Lucas wants to deploy a DeFi lending app. He writes the smart contract using Solidity and deploys it on Ethereum Classic. Because ETC is EVM-compatible, his app works similarly to Ethereum-based apps, but on a network that guarantees immutability and is secured by miners.

3. How can I buy ETC on Bitso?

To buy ETC:

1. Log in to your Bitso account.
   
   
2. Go to “Buy/Sell” and select USDC as your base currency.
   
   
3. Choose ETC as the token you want to purchase.
   
   
4. Enter the amount, review the transaction, and confirm.
   
   

Important: ETC is currently available only for conversions in the Bitso app. This means:

• Deposits and withdrawals to external wallets are not enabled at this time.
  
  
• You can send and receive ETC with other Bitso users via Bitso Transfer.
  
  

Disclaimer

This Help Center article is for informational purposes only and does not constitute financial advice. ETC is the native crypto of Ethereum Classic, a Layer 1 blockchain secured by Proof-of-Work that emphasizes immutability and decentralization. While it supports smart contract development and has a fixed supply, its value remains speculative and may fluctuate based on mining economics, usage, and market trends. Bitso encourages all users to do their own research (DYOR) and invest responsibly.